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Author Topic: Bellway Homes report 51% rise in profits  (Read 18511 times)

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The Prophet

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Bellway Homes report 51% rise in profits
« on: October 18, 2011, 09:52:08 am »
Bellway Homes has reported a strong rise in both turnover and pre tax profits in its financial results for the year ending 31 July 2011.
Bellway Homes completed 4,922 new homes during the year (327 more than in 2010) with an average selling price of £175,613 up from £163,175 in 2010.

The company's turnover increased by 15% to £886 million and pre tax profits are reported at £67.2 million up 51% on last year's £44.49million.

Bellway Chairman, Howard Dawe said:
"Against a backdrop of ongoing economic uncertainty the Group has performed very well in the year ended 31 July 2011. With profit before tax rising by just over 50%, the Board has decided to increase the final dividend by just over 30%."

Bellway also said they aim to continue to increase both volumes and average selling prices, the latter by way of ongoing changes in the mix of new homes they build.